Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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  • Loans for people with bad credit

    At Oakam we believe in financial inclusion. We think that people should not be excluded from accessing financial services because their credit history is less than perfect. We understand that not all loan decisions are black and white, that’s why we designed the Oakam Loan. 

    The Oakam Loan is a short term loan that’s designed to give you an emergency cash boost when you need it!

    • You could borrow from £200-£1750 from 3-12 months.
    • This is also an option if you have struggled to get credit in the past.
    • 1421% APR representative (variable)


    To qualify for an Oakam loan we ask for the following you:

    • Must be 18 years or older
    • Have an income of at least £400 (via benefits, salary, or self-employment)
    • Must be a UK resident for at least 6 months

    As a responsible lender we will perform credit and affordability checks when you apply. We may also ask for addition documents to verify the information you give us when you apply. Find out more about what you need to apply.

    Aceya is one of our many customers who has used the Oakam loan to gain an entry point to credit.

    Find out more about Aceya’s story here

    Worried about having a bad credit history?

    Are you worried of not being accepted for a loan because you’ve had bad credit history?  If you apply for a loan with us, we will try to give you an immediate decision. To finalise your application, one of our friendly advisors will give you a call to discuss your application and to look at the “why” behind the data.  Our advisors are trained to look into the details of your information to understand your situation.  They will then make a lending decision based on your personal circumstances. So if you have been turned down by other lenders in the past and think no one can help you with the credit you need, we might be able to help.

    You can also apply for a loan by giving us a call.

    Build your credit history

    Making on-time repayments may improve your credit score over time as we report your repayments back to credit reference agencies.  However, missing any payments will have an adverse effect on your credit score and make it difficult to borrow in the future.

    Melanie took out an Oakam loan and was able to build her credit history.

    Here is what she has to say;

    Remember! Having a bad credit history is not the same as being in financial difficulty. If you think you are in financial difficulty or are finding it difficult to pay your bills on time you should seek an alternative solution.

    For free and impartial advice, we list a number of UK organisations that could help you.